Magna International workers fear job cuts

Some Mid-Michigan workers were concerned Thursday that their paycheck may soon see a big cut. Full Story
it never ends

Simpsonville, SC

#243 Aug 15, 2009
Another year of no cost of living increase, hell, no raises at all. Took our 401k match, too. Magna needs money and decided to just take it from the rank and file. One leg of the 3 legged stool is getting mighty short. And no end in sight. Following is from The Canadian Press at
http://www.google.com/hostednews/canadianpres...
Chief financial officer Vince Galifi said Magna has actually done less than half of the restructuring it anticipated at the end of the fourth quarter of 2008, when the company said it expected restructuring would cost US$50 million to US$60 million this year.
"On a year-to-date basis, we've incurred about US$20 million of that $50-$60 million we were expecting for 2009. So, based on things we are discussing and planning today, it's probably safe to assume that we're going to incur another $30-$40 million in restructuring costs in the second half of the year."
Monday

Petoskey, MI

#244 Aug 17, 2009
"On a year-to-date basis, we've incurred about US$20 million of that $50-$60 million we were expecting for 2009. So, based on things we are discussing and planning today, it's probably safe to assume that we're going to incur another $30-$40 million in restructuring costs in the second half of the year."

Walker said the North America operations are about where they should be if the market turns up as anticipated over the next couple of years but "we may have a little bit of restructuring to do in Europe, but that's going to be completely dependent on where we see the market." - Canadian Press

So, if you believe what Magna says, ha ha, they are done making big changes in North America IF the market gets better. So in other words, its not going to get any better for those of us working at Magna for years and possibly much worse if this recession lasts any longer than it already has.
Monday

Petoskey, MI

#245 Aug 17, 2009
Hey, I just had an idea on how to save millions for Magna in a short period of time; $30,000,000 in salaries for half a dozen peeps seems a bit high

I wonder if I'll get the 5% of the money this idea would save :)
Monday

Petoskey, MI

#246 Aug 17, 2009
Forgot the link for the above post...

http://people.forbes.com/profile/frank-strona...
Tuesday

Petoskey, MI

#247 Aug 18, 2009
This is typical behavior of the filthy rich and egocentric...yes Frank, we mean you. Lets see how much money Magna has after the creditors are done with it.

http://www.bloomberg.com/apps/news...
One of the 500

Kanata, Canada

#248 Sep 2, 2009
I hear Plastcoat is moving to the old Rimply building just after they kid out 500 employees.
Go figure!!!!
One of the 500

Kanata, Canada

#249 Sep 2, 2009
Sorry - kicked out ( NOT KID )
Wednesday

Petoskey, MI

#250 Sep 2, 2009
We at LexaMar took on a bunch of Plastcoat work last winter. Now a horde of "helpers" are here from Norplas studying our every move in molding and paint...makes me wonder what is REALLY going on here at LexaMar and what the "helpers" are up to.
One of the 500 wrote:
I hear Plastcoat is moving to the old Rimply building just after they kid out 500 employees.
Go figure!!!!

Since: Dec 08

Burlington, Canada

#251 Sep 3, 2009
Karmax in Milton has 3rd party sorts going on as the quality is so bad Fiat/Chrysler have rejected everything in house until sorted.Mean while the people that took buyouts are there doing the 3rd party sort??? I thought 3rd party meant someone "NOT" tied with Magna?
ALEX

Hamilton, Canada

#252 Sep 3, 2009
PLASTCOAT MOVING TO RIMPLY,R.U. KIDDING??? I THOUGHT RIMPLY WAS CLOSED? SO WHEN IS THIS SUPPOSSEDLY TRANSFER GOING TO HAPPEN?
Manu

Mississauga, Canada

#253 Sep 3, 2009
One of the 500 wrote:
I hear Plastcoat is moving to the old Rimply building just after they kid out 500 employees.
Go figure!!!!
Plastcoat all ready shutdown the Paint line and i don't think they are going to move 30 Moulding machine and Blau system from Brampton to Newmarket (the Building in Brampton just about 7 year old ). Yes they moved to Rimply all the paint robot and washer system for storage .
Adam

Mississauga, Canada

#254 Sep 3, 2009
One of the 500 wrote:
I hear Plastcoat is moving to the old Rimply building just after they kid out 500 employees.
Go figure!!!!


Plastcoat just hired over 100 guys . They came from Rollstamp , Plydex and Rimply . And now they want to move , good idea hahaha
ALEX

Hamilton, Canada

#255 Sep 4, 2009
Plastcoat is not moving!!!!!!!!!!too expensive.
BIG BANG

Mississauga, Canada

#256 Sep 4, 2009
Plastcoat in Brampton has 3rd party sorts going on as the quality is so bad Chrysler & GM & TOYOTA & MYTOX & DOTEC have rejected everything in house until sorted .
BIG BANG

Mississauga, Canada

#257 Sep 4, 2009
Plydex become Plastcoat shipping warehouse in next month
Curious

Petoskey, MI

#258 Sep 7, 2009
Has anyone in this forum had "helpers" coming from another Magna division to study your every move and what was the result?
welcome to Magna

Simpsonville, SC

#259 Sep 23, 2009
Welcome to the Magna family , bitches!
More than 10,000 Opel jobs to be cut: Magna
see article here
http://www.cbc.ca/money/story/2009/09/14/magn...
basically
"Magna International Inc. could chop as much as 20 per cent of the workforce of newly acquired Opel, said the Canadian company's co-chief executive on Monday."
Magna is not everything it appears to be from the outside looking in.
williamsburg

Marengo, IA

#260 Sep 23, 2009
YA THINK!???
Took The Fall

United States

#261 Oct 5, 2009
Well Tom, My guess is that it's you who are still working for Magna right ? You must be the Tom skudis that is a little man with a very bad bizz sense. The guy who tries’s to scare people into doing stupid ideas like you did at Etobicoke. The guy who went around and cut all the extension cords off the fans, that Magna just paid for (new) at 250 a pop x 7 a raging lunatic. You and Ken Adams both should have you asses kicked out of the company for all the stupid ideas you came up with. And Tim Berazowski and Steve Salvador.. Complete idiots!! Ended up shutting down that plant due to Tim making a decision to get our tools all supplied by a company that never ever cut a GRU Tool ever.
Your 24k a tool ended up costing everyone their jobs and you guys still are dogging the bullet. Only If I had the ear of Don Walker… You would be finished I have proof of all your screw ups. I can’t believe you’re still making decisions there. WOW Ps. I am very happy I am not working for that place... I now love my job. and I am not bitter you did me a big favour.
frank

Harrisburg, PA

#262 Oct 20, 2009
Our bumper plant in westminster md is closing after 23 yrs
Yes we sure are the most important assett ya right.
eagle bend mnfg in clinton tn is getting most of our work im trying to get a transfer interviewed and still waiting for an answer,seems like im allready a magna employee going to another magna plant why all the interviews and waiting give me AN ANSWER

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